Category: Land

Six West Developers Gear Up for Summer 2021 Construction Start

Mar12
2021
Posted by
Marketing Staff

The project’s development team gives Atlanta’s CRE community an update on the exciting mixed-use project.

For many of the Atlanta commercial real estate professionals who attended the sold out Construction Coffee Club breakfast at the Buckhead Club on Thursday, it was their first large in-person event since virtual Zoom meetings became the norm during the pandemic.

The event provided an opportunity for the Six West development team to update the CRE community on the $1.5-billion mixed-use development in College Park, which will offer a dynamic mix of offices, restaurants, shopping, entertainment venues, hotels and single-family and multifamily residential.

On a beautiful spring-like day coinciding with a sense of optimism that the country just might be turning the corner on the COVID-19 pandemic, it’s fitting that the mood was upbeat about the project.

“Things are moving fast. There are a lot of development sites that are already closed, so we need to get going,” said Jesse Frasier, Partner at BDR Partners, serving as project manager for Six West. “We’re starting construction in 2021.”

College Park held a ceremonial groundbreaking for the 320-acre project last October. Like many other real estate developments, Six West has experienced some delays due to the COVID-19 pandemic’s impacts on the economy.

“The good news is that during this time we still had activity and we still had interest from developers,” said Ackerman & Co. Senior Vice President Steve Langford, the exclusive broker for the project.

Langford noted that construction will begin as early as this summer on several components of the multiphase project, including residential, office and hotel developments. He said he expects there to be announcements soon on development commitments for specific parcels.

About 87 acres has been spoken for, roughly 27% of the 320-acre site.

“Let me put that into perspective for you. The first phase of Avalon encompassed 80 acres. So right now with what we have under contract and are currently in discussions with, we’re pretty much at the size of phase 1 of the Avalon development,” said Langford, referring to the hugely successful mixed-use development in Alpharetta.

The Six West Difference

Six West is designed to be a 24/7 work-live-play destination. The development team discussed key features that will set Six West apart from existing and planned mixed-use projects in metro Atlanta.

“The Six West development has a lot of really nice infrastructure all around it,” said Artie Jones, Director of Economic Development for College Park.

Of course, its strategic location next to Hartsfield-Jackson Atlanta International Airport is a huge benefit. In addition to creating a built-in customer base for the project’s many attractions, developers also hope the airport will be a draw for national and international HQ operations.

Six West is also walkable from the College Park MARTA rail station and conveniently accessible via I-75, I-85 and I-285.

“The most important things about Six West are affordability, connectivity and accessibility,” said Steve Langford.

The construction of a pedestrian bridge connecting the Georgia International Convention Center and the Gateway Center Arena to Six West will boost accessibility. The pedestrian experience within the development will be enhanced by the walkable streetscape extending from downtown College Park’s street grid, and a pedestrian trail will circle the development.

Investors will be able to purchase and develop sites at a lower cost than in Midtown, Buckhead and many other prominent Atlanta districts.

“Relative to other major projects around the city, this project is hands down more affordable for a business to relocate to,” Langford said.

The project’s Incremental District near the entrance will feature smaller-scale developments designed to attract local businesses.

“This [College Park] is a big area where people were moved out of,” said Bill de St. Aubin, CEO of the Sizemore Group, referring to the residential properties vacated as part of the FAA’s noise abatement program beginning in the 1980s. The Incremental District provides an opportunity for local residents to participate in the project.

The Incremental District is designed to bring the ambiance of downtown College Park into Six West. The district’s walkable streets and alleys will be lined with restaurants, shops and offices. Strategies will be implemented to support local business owners and help them purchase parcels and implement their visions.

“How can local residents benefit? One of the ways they can benefit is by becoming small developers, by owning a piece of it,” said de St. Aubin, whose company created the Six West masterplan with community input. “This district is for small, local owners.”

About the Construction Coffee Club
The Construction Coffee Club, created by Chris Maier of Cooper & Company General Contractors, schedules breakfast meetings and other events for Atlanta’s construction and real estate community.

Ackerman & Co. Celebrates 2020 Accomplishments & Brokers of the Year

Jan14
2021
Posted by
Marketing Staff

 

There’s no doubt that the COVID-19 crisis created unexpected challenges for the commercial real estate industry in 2020.

Despite the uncertain environment, there were many bright spots at Ackerman & Co. throughout the year, thanks to the hard work of our experienced and diverse team of brokers and professional advisors.

From industrial and office leases to building and land sales to deals for restaurant and retail space, our brokers completed a steady flow of transactions.

Some of our major transactions during the year included a 710,962-square-foot lease of an e-commerce distribution facility in Florida; a 325,000-square-foot build-to-suit project at Ackerman’s Rockdale Technology Center for a regional distribution center; and a 75,205-square-foot lease with Goodwill of North Georgia for their new distribution and donation center.

Our Ackerman Retail brokers had a successful year completing a number of high-profile restaurant and retail leases. These included lease signings that will bring gourmet food market Savi Provisions and workout studio Twisted Cycle to Crabapple Market in Milton, Ga., this spring; a 17,850-square-foot lease for a new Shoe Gallery store in Cumming, Ga.; lease signings that added Henri’s Bakery & Café, Siete Tacos + Tequila, and The Original Hot Dog Factory to Marietta Square Market; and a lease for a new location of the upscale brunch spot Gocha’s Breakfast Bar in Fayetteville, Ga.

Also, our Investment Sales team was busy in 2020, with transactions that included a 30,000 square foot medical office building in Newnan, Ga., where Ackerman Medical also completed lease extensions to maintain 100 percent occupancy.

These represent just a sampling of our transactions.

And Ackerman & Co. and its partner MDH Partners are moving forward with the $85-million redevelopment and expansion of the Lee + White mixed-use project in Atlanta’s West End. The next phase of development at the popular entertainment destination will include loft offices, a food hall, public spaces, additional retail options and multifamily units.

Congratulations to our brokers of the year
Continuing an annual tradition, Ackerman & Co. also recognized the achievements of our brokers with our Broker of the Year and Young Broker of the Year awards.

The leader of our Land Group John Speros enjoyed another banner year, earning him the Broker of the Year honor – for the second year in a row. The dollar value of his deals exceeded $100 million. John works closely with his colleagues Kyle Gable and JT Speros in the Land Group.

“John really didn’t skip a beat this past year in his deal-making, which is a testament to his experience and the proven process he and his team have developed to complete land sales on behalf of their clients,” said Kris Miller.

In 2020, John’s biggest deal was the sale of 14.8 acres at Sandy Plains Marketplace for $42 million. Another major deal, completed with David Branch of SSG Realty partners, was the sale of a 4.6-acre parcel for $15.8 million that will become Porter on Peachtree, a mixed-use project featuring 291 multifamily units and 17,600 square feet of ground-level retail.

Other significant transactions for John included the sale of 67.9 acres for $5.8 million for a Meritage Homes development of 152 single-family homes and 20.37 acres for $5.6 million for the next phase of the Exchange at Gwinnett mixed-use project.

In addition to recognizing the top producer, Ackerman is also excited to announce that our Young Broker of the Year for 2020 is Will Goff.

Will’s main focus is brokering raw land and redevelopment sites, along with providing site selection services. Since joining Ackerman in 2017, Will has been involved in brokering land transactions for a wide range of uses, including residential, retail, mixed-use and industrial projects. His transactions during that time total nearly $40 million.

“Will is one of our hardest-working brokers. He can often be seen in his office at 7:30 in the morning to get started on his work, and he always has a positive attitude,” said F. Keene Miller. “In addition to his commitment to helping his clients achieve their business goals, Will is always trying to expand his knowledge. These qualities will serve him well as he grows his career in commercial real estate.”

A large portion of Will’s business is currently focused on representing developers to identify sites for multifamily and industrial projects. Will has carved out a niche in Low-Income Housing Tax Credit (LIHTC) and outside storage space, with current projects spanning across the Sunbelt from Atlanta to Houston and Charlotte to Tampa.

Will is pursuing a Master of Real Estate Development at Georgia Tech and is a CCIM candidate, having completed all course work and portfolio requirements for the designation. He plans to take the final qualifying exam at the next availability.

Read more about our brokerage group here: https://www.ackermanco.com/real-estate-services/overview/

College Park’s Transformative Six West Project Attracting Major Interest from Developers

Nov9
2020
Posted by
Marketing Staff

As photographers captured the moment, City of College Park officials recently turned shovels in dirt that will become part of Six West, a $1.5-billion mixed-use project next to Hartsfield-Jackson Atlanta International Airport.

It was the official groundbreaking for a project that will bring one of metro Atlanta’s most ambitious and transformative commercial developments to south Atlanta. This is a part of metro Atlanta that has traditionally been underserved when it comes to high-quality retail, office and entertainment offerings.

A key project representative who has been hard at work behind the scenes helping to make this huge project a reality is Steve Langford, one of Ackerman & Co.’s most experienced and accomplished brokers. As the exclusive broker representing College Park, Steve is in the process of meeting with a number of high-profile developers interested in securing land for their projects.

“The commercial real estate community is enthusiastic about the prospects of this project as we continue to field ongoing offers related to available opportunities within the development,” Steve said.

He added that several developers are pursuing parcels for retail, office and hotel development. Announcements are expected soon on purchase commitments.

A new business and entertainment hub
The multi-phase development, which will comprise more than 300 acres, will create a vibrant extension of the historic College Park community. The City foresees the office component of the project – which could ultimately total 2.3 million square feet – attracting corporate HQs seeking to capitalize on the site’s proximity to the world’s busiest airport. Plans also call for an exciting mix of restaurants, shopping, entertainment venues, hotels and single- and multi-family residential developments.

Six West is in walking distance to the College Park MARTA rail station and easily accessible to Atlanta’s extensive Interstate system, key attributes that will help it attract visitors and businesses alike.

Prioritizing interconnectivity and walkability, Six West’s masterplan also includes the construction of a pedestrian bridge connecting Georgia International Convention Center and Gateway Center at College Park to the project’s planned multipurpose park and its streetscape, which will be surrounded by a 5K walking trail.

City officials are excited that the project will revitalize a large swath of land – largely residential properties – vacated as part of the FAA’s noise abatement program starting in the 1980s. The City of College Park paid more than $40 million to buy back the land to make the ambitious project possible.

“This land paves the way for imagining a new chapter for College Park,” said College Park Director of Economic Development Artie Jones, at the recent groundbreaking celebration.

Added Mayor Bianca Motley Broom, “This is yet another step toward building the community we deserve. We’ve come a long way by continuing to work together. We eagerly await the future.”

The master-planned development is part of Aerotropolis Atlanta, a blueprint for spurring development aimed at transforming the Airport vicinity into a dynamic destination with multi-modal transportation options.

A recent example of a project that serves as a model for economic development in College Park is the recently completed Gateway Center, a multipurpose sports and entertainment venue. The $45-million facility is home to the WNBA’s Atlanta Dream and the Atlanta Hawks’ G-League team, the College Park Skyhawks, and also hosts concerts and conventions.

Six West will be the biggest addition yet to the growing slate of attractions near the Airport, which also include the Porsche Driving Experience and the Delta Flight Museum and Chick-fil-A headquarters tours.

Strategic Location Helping Rockdale/Newton County Submarket Draw Big-Box Tenants

Jul22
2020
Posted by
Marketing Staff

 

Facebook, Lidl and other leading companies commit to opening large distribution hubs in the submarket

When Ackerman & Co. moved forward with plans for Rockdale Technology Center, a 1-million-square-foot master-planned industrial park in Conyers, Ga., the site’s strategic location in the Rockdale/Newton County submarket of Atlanta was a big selling point.

Most importantly, the property offers convenient access to I-20, a major east-west highway that connects to Atlanta’s dense population centers to the west and to the ports of Savannah and Charleston to the east.

To date, Ackerman & Co. has developed two Class A distribution facilities on the 92-acre site of 135,000 square feet and 185,000 square feet. Later this quarter, Ackerman will begin development on its largest project so far on the site – a 325,000-square-foot facility that will serve a prominent manufacturing company.

“As land availability becomes more limited in industrial submarkets close-in to Atlanta, Rockdale County will continue attracting the interest of companies seeking modern, efficient distribution space,” said Brett Buckner, Senior Vice President of Ackerman & Co.’s Industrial Services group. “At Rockdale Technology Center, the ability for distributors to gain quick access to I-20 as well as connect to a CSX rail line are strategic advantages.”

Some big-name consumer companies are choosing to locate major distribution operations in the submarket for the same reasons.

Construction is expected to be completed this summer in Social Circle on a 970,000-square-foot flex data center for social media giant Facebook that will create an estimated 100 jobs, and Germany-based grocer Lidl recently announced plans for a 925,000-square-foot distribution center in Covington that will create 270 jobs and serve as its regional headquarters.

These major projects indicate that Rockdale/Newton County is becoming an increasingly prominent distribution hub for metro Atlanta. There is currently 1.7 million square feet under construction in the submarket, significantly higher than typical construction levels in a submarket that boasts one of the lowest vacancy rates in metro Atlanta at 3.7 percent. That compares to a market-wide vacancy rate of 7.2 percent as of 2Q 2020.

The Rockdale/Newton County submarket is part of Atlanta’s Snapfinger/I-20 East market, which totals 49,637,758-square-feet of industrial space. As of 2Q 2020, the market had the lowest vacancy rate in metro Atlanta at 3.2% and total year-to-date absorption of 473,594 square feet– one of the highest absorption rates in the market.

Although the COVID-19 pandemic initially resulted in a slowdown in leasing activity in the Atlanta industrial market at the start of the second quarter, leasing volumes have surged in recent weeks, and CoStar predicts vacancies are likely to remain below Atlanta’s historic average.

 

Mar20
2020
Posted by
Marketing Staff

As Ackerman & Co. steadily strengthens its services platform and adds talent to its brokerage group, the firm continues to solidify its position as a leading commercial real estate firm in the Southeast.

One way to measure a firm’s success is by the number of its brokers who are named to the Atlanta Commercial Board of Realtors (ACBR) Million Dollar Club. A total of 11 Ackerman brokers were named to the Million Dollar Club at the recent 2020 ACBR awards.

“This is the most brokers we’ve ever had named to the Million Dollar Club,” said Kris Miller. “Our brokerage team is producing great results for our clients and we’ll continue building our team and the quality of our services to keep those results coming.”

The Ackerman brokers added to the 2020 Million Dollar Club include Courtney Brumbelow, Brett Buckner, Bryan Davis, Brian Lefkoff, Chris Miller, Kris Redding, Sean Patrick, John Speros, Jimmy Stevens, Kelly Wilson and Larry Wood.

Three of Ackerman’s 2020 Million Dollar Club members took home Top 10 Broker honors – Brian Lefkoff (the No. 5 Retail Broker), Courtney Brumbelow (the No. 8 Retail Broker) and John Speros (the No. 5 Land Broker).

As leader of Ackerman Retail’s Tenant Representation Group, Brian’s major deals included a 30,000-square-foot lease on behalf of Painted Tree Marketplace in Buford, Ga., which marked the retailer’s first store in Georgia, while Courtney completed nearly 100 real estate transactions as the head of the Landlord Representation Group.

A long-time high producer for Ackerman as Senior Vice President of the Land Group, John’s biggest transaction was the $18 million, 65-acre land sale for the Exchange at Gwinnett mixed-use project, which he brokered with Senior Vice President Larry Wood. The project, also named one of the three finalists for ACBR’s 2020 Alvin B. Cates Award, will feature Top Golf, Andretti Indoor Karting & Games, Rooms To Go and more.

The Million Dollar Club recognizes brokers with production of $5 million or more in annual commercial transactions.

Jan2
2020
Posted by
Marketing Staff

Brokers are vital to the success of every full-service real estate company, and Ackerman & Co. is fortunate to have a talented, diverse team ranging from young associate brokers to veterans with 40-plus years of experience.

At the close of every year, Ackerman & Co. recognizes brokers on both ends of that spectrum with its Broker Awards.

We’re excited to announce that John Speros is the recipient of our Broker of the Year Award and Kris Redding is our Young Broker of the Year.

Another Stand-Out Year for Veteran Broker

One of Ackerman’s most experienced and high-producing brokers, John Speros has been with the firm since 2009. He has expertise in virtually every type of commercial real estate transaction, from the sale of land parcels for single-family, multifamily and mixed-use developments to the disposition of portfolios and the acquisition of sites for commercial and residential development. His current focus is the representation of owners in land sales as leader of the Ackerman/Pioneer Land Group with Kyle Gable.

This past year has been one of John’s most productive, which is saying a lot for someone who has received multiple high-profile Atlanta market awards throughout his career – including recognition as the second-highest producing commercial land broker in 2010 and receiving the Alvin B. Cates Award for the most significant commercial real estate transaction in 2003 and 2007.

In 2019, John completed land transactions totaling nearly $75 million. Some of his biggest transactions include the $7.3-million sale of 35 acres in Gwinnett County that will become the site of the 330-unit Alta Sugarloaf multifamily complex and the $8.9-million sale of 152 acres in New Smyrna Beach, Fla., that will be used to expand a public park.

“We’re very fortunate to have someone with John’s experience and ability. He has been a key member of our team for years, and it’s great to see him have another hugely successful year,” said Kris Miller.

What stands out most about John to Kyle Gable is his combination of commercial real estate expertise and his willingness to serve as a mentor to younger brokers.

“I think there are two main qualities that make John so good in the land business. The first is his overall knowledge of all the different types of land transactions – he brings an array of knowledge to the table that most brokers just don’t have,” Gable said. “Second is his ability to get a deal closed. John understands the complexity of real estate and how to get the deal across the goal line.”

Kyle himself has benefited from John’s generosity in sharing his expertise. “When I was a 26-year-old with limited land experience, John took me under his wing and showed me how to work on land transactions and ultimately get them closed. In working with him over the past 10 years, I have seen him spend time with many young brokers teaching them about real estate,” he said.

Young Broker Hitting His Stride

A former NFL and Canadian Football League player, Kris Redding began his real estate career during the 2015 off season and now represents clients in both lease and sales transactions. Since joining Ackerman in 2017, he has demonstrated an ability to grow client relationships and become a valued partner in helping them achieve their business goals.

“It’s an honor to receive this award.” said Redding. “Ackerman’s prestige, tenured relationships within the industry, prolific resources and internal support system have provided me with a platform that has galvanized my ability to be productive in our business.” This productivity earned him a place in the NAIOP Million Dollar Club for completing more than $4 million in office leases in 2018.

Kris’s major deals in 2019 include representing Academy Orthopedics in the $5.26 million sale of its North Atlanta medical office portfolio. He also completed three lease transactions concurrently at Phoenix Business Campus with Worker’s United Southern Region, Primerica and Good Ground Development Center in five-year leases totaling 18,314 square feet.

“Kris brings the same hard-working and tenacious work ethic to real estate brokerage as he did to football. We look forward to seeing him continue his growth in commercial real estate as an important part of our brokerage team,” said Miller.

Read more about our brokerage group here: https://www.ackermanco.com/real-estate-services/overview/

Aug9
2019
Posted by
Marketing Staff

This year’s Deloitte’s Commercial Real Estate Outlook Report focuses on how technology and changing tenant and investor expectations are ramping up competition and creating shifts in how products are sold or leased.

With these shifts, what can CRE Companies do to stay competitive and ensure they capture the rapidly growing demand?

Out-of-the-Box Properties and Business Plans – The report states that this year investors plan to increase their focus on mixed-use properties, nontraditional products and retail developments. Flexible leases and business spaces are also going to be an attractive investment.

Adaptability – Investors will be looking for the companies that can quickly respond to the rapidly changing waters of the CRE business world, whether it be with new business models or by adopting “a variety of technologies to make buildings future-ready.”

Tech-savvy presence – To attract potential investors, companies need to be able to stay shoulder to shoulder with technology and present technological agility in the way they market their properties and in their business plans.

Catering to investor and tenant needs should move CRE companies to have a different perspective on the way they do business. By increasing mixed-use, nontraditional and retail products in their portfolios, becoming more adaptable to the changes in the industry and using technological advancements in their favor, CRE companies can change with the industry and be ready for the future to come.

Jul19
2019
Posted by
Marketing Staff

Two Class A industrial buildings – totaling 135,000 SF and 185,000 SF – are ready for occupancy at Rockdale Technology Center, Ackerman & Co.’s newest state-of-the-art industrial development.

Located east of Atlanta in Conyers, Ga., the state-of-the-art industrial park will ultimately offer 1 million square feet of the highest-quality distribution space available in Atlanta’s I-20 East submarket.

Ackerman is targeting e-commerce operations, technology companies, medical companies and logistic providers, among other users. The multi-phase development will house space users that will bring hundreds of jobs to the city of Conyers, Ga.

Brett Buckner, who is leading leasing efforts at the development, recently met up with Rockdale County Board of Commissioners Chairman Oz Nesbitt to discuss the development that has Rockdale County residents talking.

A video of the interview and a written recap are below:

Oz Nesbitt: I’m here at Rockdale Technology Center, 2430 Dogwood Drive, at the long-anticipated opening of this facility. People all over our county have been asking, “Mr. Chairman, what’s happening with Rockdale Technology Center?”

Brett, tell us about the decision to come to Rockdale County.

Brett Buckner: We bought a property down the road about a year ago. And when we got into the market we figured out there’s a niche here for shallow-bay type properties. So we purchased, about a year ago, 92 acres here to build shallow-bay buildings, meaning buildings that are short in depth. This lets us offer as little as 10,000 square feet and up to 135,000 square feet for this building and up to 185,000 square feet in the other building.

Oz Nesbitt: Tell us about the technology piece and how and why you landed on that particular name.

Brett Buckner: It was really a decision with several different people within the company and we thought the name technology, added with the great county we’re in, Rockdale, would attract not only manufacturers that are already out here but also people in the technology business. But we’re not just focused on those two industries. We also have warehouse properties that can accommodate some logistics and also medical-type companies as well.

Oz Nesbitt: You have a prime location. Tell us about I-20 and accessibility, being right here on a frontage road in Rockdale County on Dogwood Drive.

Brett Buckner: When we purchased the property, one of the things that attracted us to the site was the visibility, right here in front of this building. We hope to attract some tenants that can take advantage of that. We can accommodate somebody that needs the visibility or somebody that needs to have just pure warehouse/distribution as well.

Oz Nesbitt: So, Brett, we focused on the four “E’s” here in Rockdale County – Economic development, efficiency, execution and education. Tell me about the interaction with local county government and how they helped you get from point A to point Z. How was that experience for you and your company?

Brett Buckner: When we first started, we met with Marty Jones (executive director at Conyers Rockdale Economic Development Council) and Gina Hartsell (Film Rockdale project manager). They’ve been terrific to work with since the beginning, which was over a year ago. They’ve introduced us to tenants in the area as well as state-run projects. From a development standpoint, they’ve been absolutely terrific. We’re so pleased to be here.

Help is Here – Meet Our Summer Interns!

Jun14
2019
Posted by
Marketing Staff

As summer arrives, so does a new group of interns at Ackerman!

We recently sat down with our interns to discuss how they plan on applying their newly gained experience in the future.

“I’m very excited to be here,” said Emma Lonergan, who is working in the Marketing & Communications department. She is an incoming junior at Georgia College and State University. “I’m learning so much I can apply to my college classes and later in my career.”

Projects she’s working on with Fara Wilson and the marketing team include updating the organization of the promotional items inventory, which she will track and monitor throughout the summer. She’s also working on editorial assignments, including blog writing.

Also joining Ackerman’s Marketing team for the summer is Ellis Snell, who will be assisting in the department’s day-to-day activities and select projects. Ellis is headed to the Savannah College of Art and Design (SCAD) as a freshman this fall.

Harrison Bernhardt, an intern with the Brokerage team, tells us he looks forward to applying everything he learns this summer to his future dream job in commercial real estate. An incoming senior at the University of Georgia, he’s learning a lot from the brokers he’s working with, including how to knock on doors to canvas potential clients.

“I realized that real estate was a better fit for me than finance, my original major in college, because I enjoy working in the field and meeting people face-to-face,” he said.

Also spending the summer interning for the Brokerage group are Bart Kauffman (an incoming senior at Furman University) and Connor Barry (an incoming sophomore at the University of Southern California).

All three Brokerage interns are gaining valuable experience learning commercial real estate research programs as they help our brokers in their ongoing lease and sales efforts. That includes using CoStar, LandVision and other research tools to summarize market trends, prepare lease comparables and access various details on individual properties and owners.

Bart, Connor and Harrison are also getting a first-hand look at the types of projects Ackerman develops. They recently attended a BBQ event and tour at Rockdale Technology Center, the firm’s newest Class A industrial park. Connor and Harrison were responsible for transporting our brokerage guests across the park, and they assisted the Marketing team in setting up and closing down the event.

Alex Barnes (not pictured), an incoming junior at Georgia College and State University, is one of the interns supporting the HR department this summer.

He recently attended the company’s open enrollment benefits session, where he learned about the different healthcare and benefit options available to employees.

“This was incredibly eye-opening,” Alex said. “I was unaware of all the complexities involved in selecting healthcare coverage and the wide-ranging costs.” He’ll be able to call on this knowledge when he enters the workforce and goes through the process of selecting his own insurance.

It’s great to have these bright-eyed and bushy-tailed interns on board with us this summer. We have every confidence they’ll succeed in their future careers!

Ackerman & Co. Investor Conference 2019: What Next?

Feb12
2019
Posted by
Marketing Staff

The combination of job growth and the surge in GDP during the long-running economic recovery has been a boon to the commercial real estate sector.

In Atlanta and across the country, there has been continued strong demand and absorption for virtually all product types, and capital has been readily available for investment.

But will the good times continue? What next?

That was the focus of Ackerman & Co.’s recently held 12th Annual Investor Conference, attended by some 150 guests, including owners, operators, investors and brokers.

Host Kris Miller and keynote speaker David Haddow weighed in with their perspective on current economic trends and their outlook for the commercial real estate sector. Joining them with in-depth discussions of investment opportunities for specific product types were F. Keene Miller (Brokerage), Leo Wiener (Retail), Brett Buckner (Industrial) and Evan Ziegler (Investments).

“After the last two years of success, growth and prosperity, the numbers would suggest that the future of commercial real estate has never been brighter. Yet each of us feels less certain than we did two years ago. Why? Is that how we should feel?” asked Kris Miller.

There are causes for concern, said David Haddow. Current economic soft spots, he said, include the rising national debt (now at $21.6 trillion, an increase of $10 trillion since 2008), government gridlock, fast-rising home prices and diminishing consumer confidence. Combined with those issues, the length of the current cycle (nearly 10 years) makes an economic correction more likely in the next 24 months, Kris added.

How should investors respond? Here are the three biggest takeaways provided by Kris and his Ackerman & Co. colleagues:

  • Stay on the field.

  • Focus on the specific strengths and weaknesses of each deal – rather than macro conditions across property types or markets.

  • Adopt a bias toward selling.

The annual conference also provided guests an opportunity to learn about Ackerman & Co.’s 2018 business highlights as well as its goals for the coming year.

Last year’s highlights included Ackerman’s $70-million sale of Braselton Logistics Center to Uline Inc.; the $9.75-million acquisition of the four-building Warren Drive industrial portfolio in Atlanta; the completion of the 181-key Crowne Plaza Hotel in North Augusta; and the $15-million disposition of seven industrial buildings at Stone Mountain Industrial Park, to name a few.

Kris and the team thank everyone for attending despite the rare winter-weather advisory in Atlanta!